ASX-listed Moelis Australia has further committed to Australia's $18 billion health care sector, acquiring a 9.96 per cent interest in listed aged care operator Japara Healthcare Limited.
Japara has a market capitalisation of approximately $490 million, with 3800 operational beds and a development pipeline of an additional 1100 new beds.
The advisory and funds management firm 9.96 per cent interest represents a $53 million move into the sector.
The Japara investment follows Moelis Australia's September acquisition of a 70 per cent interest in aged care operator and developer Infinite Care.
At the time of announcement Moelis Australia committed to invest up to $45.4 million into the fund that acquired Infinite Care, but has since increased the size of the Infinite Fund’s capital raising to $70 million.
As a consequence of the Infinite Care initiative a fund managed by Moelis Australia has secured a controlling interest in aged care operating and development assets with an expected fully-developed end value in excess of $450 million.
Moelis Australia's assets under management now stand at approximately $2.7 billion, $200 million higher than that advised at the last market update on 4 September 2017.